There are many small businesses that are owned and operated by husband and wife teams. Husband and wife group health insurance seems like a great way to provide medical insurance coverage for your family using the benefits of owning your own business. If you want to create group coverage for you and your spouse, you should realize that you’ll both need to apply for coverage separately as employees. Separate insurance can sometimes reduce the amount of your premiums if you are both healthy and have limited medical history.
In some cases it may be more beneficial for both spouses to be included in the same plan rather than separately. Insurance companies will usually charge the subscriber a premium based on the age of the youngest spouse, so a couple can have substantial monthly savings if there is an age difference between them. When you split your coverage you will have to pay premiums based on each spouse’s age, which means that the premiums may be much higher.
Husband and wife group health insurance is available through many of the most reputable health insurance companies. You may find that when you speak to an agent about your health insurance needs they can offer you a special rate for husbands and wives together. Each company is different, so shop around and find the best deal available for your situation.
When you purchase husband and wife group health insurance, be sure to look into the legal requirements for your state. Each state has its own laws regarding the setting of premiums and handling of taxes when it comes to health insurance. Your insurance agent should be able to provide you with all of the information you need to purchase the most affordable and comprehensive plan possible for you and your spouse.